OECD Predicts Upturn for Global Steel Industry

According to the Organisation for Economic Co-operation and Development (OECD), the annual growth rate of global steel demand in 2011and 2012 will be about 6% since the development of global steel industry in recent 2 years has been quite excellent.

OECD committee thinks that manufacturing industry will become the drive of demand for steel in many countries, especially in the sectors of automobiles, machines, and metal processing. Although the construction and real estates are the main sectors of the current demand, they are still the weakest part compared to other steel demands, especially in developed countries.